IEAT expects the Smart Park Industrial Estate to be completed by 2024, attracting investment in the targeted industry

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Industrial Estate Authority of Thailand draws confidence in the private sector, expects 2024 Smart Park  is ready to continue to attract investors. Reveal the Map Ta Phut Industrial Port Development Project, Phase 3, proceed as planned. Pointing out that the EEC is still an important economic driver. In 2021, new industrial estates will be established in 4 areas.

 ( September 7, 2021) Mr. Weris Amrapal, Governor of the Industrial Estate Authority of Thailand (IEAT) revealed that investment in the Eastern Economic Corridor (EEC) is an important factor in stimulating the economy recovery both in the short and long term, IEAT has accelerated the progress of important projects such as the Smart Park Industrial Estate project, which is expected to be operational in 2024 as planned.

In order to attract investment in the targeted industries (New S-Curve), the investment areas are divided as follows:

The aviation and logistics industry 301.70 rai(119.28 acres) the medical industry 182.84 rai, the digital industry 163.93 rai, and the robot industry 75.17 rai, with direct benefits that are expected to occur after the investment in Smart Park Industrial Estate  is economic growth can create the value of GDP in the country per year at 53 billion baht.

In the construction phase, approximately 200 people, resulting in working capital of approximately 24 million baht per year. In the implementation phase, it is expected that approximately 7,500 people will be employed, resulting in approximately 1,400 million baht in working capital in the local economy/ year.

At the same time, IEAT has also proceeded with the Map Ta Phut Industrial Port Development Project Phase 3 with a seminar to test the interests of the private sector (Market Sounding) in August 2021 and will be operating as planned in Year 2026.

The project will be a transportation hub and the water logistics of ASEAN to the international economy. As a gateway to trade with the region and support investment in the country’s main industries.  It has the ability to support the import of liquefied natural gas (LNG) as an important source of energy to drive the Eastern Economic Corridor.  As well as supporting local and local development employment, Build a community economy and increase income for people in the area.

Mr. Veerit also said that in 2021 there will be 4 new co-operating industrial estates to be established in the EEC area, namely:

1. EGCO Rayong Industrial Estate, Rayong Province, area 621 rai (245.52 acres), currently under project development.

2. Rojana Industrial Estate, Nong Yai, Chonburi Province, area 1,987 rai (785.59 acres), currently in the process of developing the project.

3. Apex Green Industrial Estate, Chachoengsao Province, area of 2,191 rai (866.25 acres), is currently pending a joint operation contract with the IEAT and

4. Chachoengsao Industrial Estate, Blue Tech City, Chachoengsao Province, area 1,181 rai (466.93 acres), is currently pending a joint operation contract with the IEAT. The new industrial estate will attract investment in targeted industries such as automobiles and parts, iron and metal products, electronics and petrochemicals, etc.

 “Investing in the EEC area will cause investments to enter the economy and resulting in a large number of employment.  At present, there are 40 industrial estates located in the EEC areas of 3 provinces, namely Chonburi, Rayong and Chachoengsao, with investments in the area of over 2.04 trillion baht. expand as well for industrial growth to be in tandem with the community and society in a sustainable way,” Mr. Veerit concluded.

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